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(Transportation-News.com, May 17, 2017 ) The trucking industry plays an important role when it comes to the delivery of goods and products in bulk. Moreover, they are considered as one of the most effective and practical means of delivering through long distances, thus creating a high demand from various manufacturing and construction industries. Market Research Hub (MRH) has recently broadcasted the latest forecast study to its wide research offerings section, which is titled as “Medium & Heavy Trucks Global Industry Guide 2017”. This study comprehensively analyzes the overall medium and heavy trucks market, together with the major information on market size, segmentation data, textual and graphical analysis of market growth trends and leading companies.
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The report also features valuable data on the market growth prospects for the forecast period of 2016 to 2021. As per the key highlights of the study, the global medium & heavy trucks market had total revenues of $216.4bn in 2016, demonstrating a CAGR of 6.9% between 2012 and 2016. On the basis of market performance over the last five years, the research analyzes the expected market size of the global medium & heavy trucks market in the year 2021. The market value is calculated in terms of average manufacturer selling price (MSP) against market volume and excludes all taxes and charges.
At first, the report presents a precise overview of the market, by analyzing some prime regions such as Asia-Pacific, France, Europe, United States, United Kingdom, Spain, Australia, Italy, the Netherlands, Germany, Japan, Canada and China. Trucks market can be classified as light, medium and heavy based on their dimensions and load capacity. The report further adds that the medium and heavy trucks market includes commercial vehicles (CVs), heavy commercial vehicles (HCVs) buses and coaches (BCs) and heavy buses & coaches (HBCs). Medium weight trucks are used to deliver heavier loads such as furniture, appliances and medium weight construction supplies. Heavy trucks market is usually dependent on the industrial progress in a country as it is used in carrying the raw materials for the industries as well as the finished goods from manufacturing location to its anticipated market. These trucks usually have tractor units and are capable of supporting a large box containing heavy loads that will be transported.
Germany is known to be the logistics hub of Europe due to its high level of industrial and commercial activities, which has boosted the demand for heavy trucks in the region. However, rising costs of emission standards that tend to become stringent universally in favor of environmental protection, is a major point of concern for truck manufacturers.
Moreover, the research has profiled major players ruling in this market which are as follows: AB Volvo, Dongfeng Motor Group Co. Ltd., Volkswagen AG, Hino Motors, Ltd., Tata Motors Limited, Daimler AG, PACCAR Inc., Isuzu Motors Limited, Sinotruk (Hong Kong) Limited, Navistar International Corporation and Beiqi Foton Motor Co. Ltd.
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